« previous   misc   next »

Yun's prediction


By lurking   Follow   Fri, 16 Nov 2012, 8:01am PST   4,875 views   36 comments
Watch (1)   Share   Quote   Permalink   Like   Dislike (1)  

I kept this November 2011 article on the NAR conference that took place in Anaheim last year. I wanted to see how far off the NAR lapdog would be when he gave his predictions for this year. Here is the article

http://realestate.aol.com/blog/2011/11/14/housing-market-on-the-rise-in-2012-expert-says/

APOCALYPSEFUCKisShostikovitch   Sat, 17 Nov 2012, 10:11pm PST   Share   Quote   Permalink   Like (4)   Dislike     Comment 1

Listening to the NAR's recommendations on RE is like asking Jeffrey Dahmer for tips on table manners.

Oxygen   Fri, 16 Nov 2012, 5:17pm PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 2

who gives a fuck what Yun says?

Kevin   Sun, 18 Nov 2012, 12:18pm PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 3

"I" "like" "to" "use" "quotes" "too", "but" "I" "understand" "when" "they" "are" "appropriate".

Bigsby   Sun, 18 Nov 2012, 1:43am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 4

I suspect Darrell doesn't understand what per capita means.

jvolstad   Sun, 18 Nov 2012, 10:03am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 5

Realtors should get a job. A real job that is.

Bigsby   Mon, 19 Nov 2012, 9:59pm PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 6

LiarWatch says

How can that be when new construction is a fraction of the cost of resale housing?

You can't even keep your lies straight. Typical used house pimp.... and can't even be truthful about that.

Contact Deepak Chopra. I'm sure he can give you some bullshit spiritual guidance to make up for all those years you gorged yourself at the trough of the housing bubble. You new construction pimps just fleeced all those poor misguided individuals who were led down the path of debt by nice new marble counter tops installed by pimping contractors like yourself.

Bigsby   Mon, 19 Nov 2012, 10:34pm PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 7

LiarWatch says

How can that be when new construction is a fraction of the cost of resale housing?

Why should I believe you? You're a builder - a profession ranked right up there with realtors for untrustworthiness. All of you involved in the real estate business are neck deep in it, all of you, and that's why you keep flapping around this forum spouting your nonsense - you're covering for the shame and guilt you feel for the part you played in bilking so many people during the housing bubble. Shame on you, you new construction pimp.

iwog   Fri, 16 Nov 2012, 8:04am PST   Share   Quote   Permalink   Like   Dislike     Comment 8

Dead on accurate with the housing market. Not so much with mortgage rates although he couldn't have imagined QE3.

Kevin   Sat, 17 Nov 2012, 5:19pm PST   Share   Quote   Permalink   Like   Dislike     Comment 9

Mortgage rates will remain low as long as the rate of purchasing remains low and the economy remains sluggish.

If / when the economy improves, rates will rise. There's no real reason to believe that they'll move in different directions over the long term.

Bigsby   Sat, 17 Nov 2012, 10:13pm PST   Share   Quote   Permalink   Like   Dislike     Comment 10

Darrell In Phoenix says

And "rate of purchasing" will remain low as long as resale prices remain grossly inflated and distorted.

Remember.... Housing demand is at 16 year lows for a reason..... that reason is grossly inflated prices.

What's the median household income in Phoenix? What's the median house price?

Bigsby   Sat, 17 Nov 2012, 10:50pm PST   Share   Quote   Permalink   Like   Dislike     Comment 11

Darrell In Phoenix says

Household income has nothing to do with it. Wage earner income is under $24k.

Is that a per capita figure by any chance?

The Professor   Sun, 18 Nov 2012, 1:25am PST   Share   Quote   Permalink   Like   Dislike     Comment 12

Bigsby says

Darrell In Phoenix says

Household income has nothing to do with it. Wage earner income is under $24k.

Is that a per capita figure by any chance?

Median Income
Phoenix:$47,085
Arizona:$48,745
Estimated per capita income in 2009: $22,209

Read more: http://www.city-data.com/city/Phoenix-Arizona.html#ixzz2Cb06yrUE

Bigsby   Sun, 18 Nov 2012, 3:15am PST   Share   Quote   Permalink   Like   Dislike     Comment 13

Darrell In Phoenix says

Darrell In Phoenix says

Wage earner income is under $24k.

So you really don't know what per capita means.

The Professor   Sun, 18 Nov 2012, 5:50am PST   Share   Quote   Permalink   Like   Dislike     Comment 14

Wage earner income is under $24K everywhere.

Low wage earner income.

Mininum wage+ $2/hour * 50 weeks/year * 40 hours/week=
($7.80 + $2) * 50 * 40 = $19,600.

These low wage earners in Phoenix don't buy homes, they rent for double the PITI from some investor.

The Professor   Sun, 18 Nov 2012, 5:53am PST   Share   Quote   Permalink   Like   Dislike     Comment 15

Bigsby says

Darrell In Phoenix says

Darrell In Phoenix says

Wage earner income is under $24k.

So you really don't know what per capita means.

Darrell is not stupid, but I think he may have had a tramautic experience with a realtor at sometime in his life.

Bigsby   Sun, 18 Nov 2012, 9:51am PST   Share   Quote   Permalink   Like   Dislike     Comment 16

Darrell In Phoenix says

Is that a per capita figure by any chance?

So you really don't know what wage earner income means.

Here's a hint..... it means housing prices falling to much lower levels. ;)

I know what wage earner income means, but as you quoted the per capita figure...

Bigsby   Sun, 18 Nov 2012, 9:56am PST   Share   Quote   Permalink   Like   Dislike     Comment 17

Darrell In Phoenix says

Bigsby says

I know what wage earner income means

No you don't.

Says the person who quoted the per capita figure.

Bigsby   Sun, 18 Nov 2012, 10:11am PST   Share   Quote   Permalink   Like   Dislike     Comment 18

Darrell In Phoenix says

Bigsby says

Says the person who quoted the per capita figure.

And prices are rolling back.... enjoy.

But apparently not in Phoenix, though of course that doesn't matter to you seeing as you don't live there.

Kevin   Sun, 18 Nov 2012, 11:55am PST   Share   Quote   Permalink   Like   Dislike     Comment 19

Could you please elaborate what exactly you mean by "wage earner income"?

If you're talking about the average income of a working person in a household, you're clearly wrong.

If you're talking about the (antiquated) average income of hourly workers, you're also wrong. It's within 10% of the average according to the BLS. Hourly workers (outside of skilled trades) are also overwhelmingly not home buyers.

Instead of telling people that they're wrong, why don't you tell us WTF you mean?

Bigsby   Sun, 18 Nov 2012, 12:24pm PST   Share   Quote   Permalink   Like   Dislike     Comment 20

Darrell In Phoenix says

The Professor says

Estimated per capita income in 2009: $22,209

You're too funny Bi.... err... "Kevin".

Try again, Dullell.

lurking is moderator of this thread.

Email

Username

Watch comments by email

home   top   share   questions or suggestions? write p@patrick.net